News

The Pensions Ombudsman (TPO) has ordered a former owner of Norton Motorcycles to pay back £14m of pension fund monies that he had invested in the struggling sponsor.

Defined benefit (DB) pension trustees without technology-led processes are losing a total of 3,000 days per year, according to Willis Towers Watson (WTW).

Pension Insurance Corporation has reiterated its call for the establishment of a new consolidation vehicle, run by a not-for-profit agency, to target smaller underfunded schemes with weak sponsors.

Bank of England (BoE) governor Andrew Bailey is understood to have warned against superfund consolidation of defined benefit (DB) pension schemes less than a week after the entities were given the green light by The Pensions Regulator (TPR).

The latest data from the Office for National Statistics (ONS) shows excess death rates in England and Wales during the Covid-19 pandemic have remained low for another week.

The Financial Conduct Authority (FCA) will bring forward proposals designed to promote value for money for workplace pension schemes members, a consultation paper says.

The UK’s system of pensions tax relief needs to be overhauled to make it fairer to the lower paid and younger savers, the Association of British Insurers (ABI) says.

The Univar Company Pension Scheme has been granted court permission to change its indexation protection from the Retail Prices Index (RPI) to the Consumer Prices Index (CPI).

Michael Eakins has been appointed as chief investment officer (CIO) at Phoenix Group, subject to regulatory approval and completion of the acquisition of ReAssure.